Banker Shame
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The Colbert Report
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Michele Bachmann announces her retirement in a web video recorded at the Sears portrait studio.
The "deficit problem" is man-made. The deficit is now down 60 percent as a percent of gross domestic product. It is down more than the deficit hawks Alan Simpson and Erskine Bowles asked for. This rapid reduction is seriously hurting the economy and jobs, but demands for cuts continue. It is time for Congress and the President to "pivot" to focusing on our real problems: the jobs gap, the wage gap and the trade gap.
First, a terrible jobs report, then a Democratic President offers a budget that proposes cuts to Social Security and Medicare. What they actually heard was Austerity 2013 - U.S. style. President Obama's offering up a cut in Social Security (make no mistake, that's what it is) contravenes promises he has previously made about not undermining the program and a recent flat out pledge by Vice-President Joe Biden that it would not happen.
The White House released a report Sunday emphasizing the ways in which the cuts will hurt the middle class, but although important entitlement programs such as Medicaid, Social Security, and food stamps are exempt from sequestration, many programs for low-income families are on the chopping block. Here are 12 of them:
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